JB Mackenzie: How Robinhood built a prediction market business

🎙️NEXTPredict Podcast #3 with JB Mackenzie, General Manager & VP Futures & International at Robinhood.

Two years ago, Robinhood launched one prediction market on one election night.

Today it's their second biggest revenue line — bigger than crypto, bigger than equities. Over 2 million customers have traded a prediction market on Robinhood, and the industry has gone from 3 CFTC-regulated exchanges to over 22 in the same period.

JB Mackenzie, VP and General Manager of Futures and Prediction Markets at Robinhood, joins Pierre on the NextPredict Podcast to go under the hood on how this happened — and where it goes next.

⏰ Timestamps:

00:00 - Intro

00:34 - JB welcome

01:47 - The Sunday in London that started it all

03:09 - When did this stop being a feature and start being a business?

04:49 - Why Robinhood chose not to vertically integrate

09:23 - From 3 exchanges to 22

11:19 - The crypto.com and OG partnership explained

16:22 - The customer is the secret sauce.

18:21 - It feels like a Sprint but it's a Marathon

19:52 - Prediction markets: now Robinhood's second biggest revenue line

22:26 - "Prediction markets wasn't the plan"

24:23 - Sports is the headline.

27:17 - Will prediction markets replace the insurance industry?

30:29 - The #1 thing holding prediction markets back

33:31 - The midterms: Robinhood's election hub explained

35:04 - Where does this space look in 2029?

36:02 - Prediction markets as financial education

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